Galapagos jumps after appointing EcoR1's Nodelman to its board

Lakefront Biotherapeutics NV

07/10/2024 08:56

** Shares in pharmaceutical company Galapagos  GLPG.AS  rise
4.3% after it appoints Oleg Nodelman, founder and portfolio
manager of EcoR1 Capital, to its board of directors
    ** EcoR1 in August reported a 9.9% stake in Galapagos and
said it planned to communicate with the management and the board
about topics relating to co's performance and board composition
    ** "(Nodelman) will bring his track record in business
development and capital deployment, and we'll be on the lookout
to see if this translates into an acceleration in business
development activity," KBC Securities says in a note
    ** The stock is on track for its best day since Aug. 26 if
the gains hold, topping Amsterdam mid-cap index  .AMX  and
Brussels blue-chip index  .BFX 
    ** Up to Friday's close, the Galapagos shares were down
nearly 30% YTD​

 (Reporting by Nathan Vifflin)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))